How to avoid getting overwhelmed and leverage the value of your information.

1. Understand the possibilities. Combining hundreds of data
elements and terabytes of data doesn’t automatically produce results. Business
analysts and IT experts must understand how the data can be used and how it can
be mapped effectively.

2. Tap into IT systems that manage data and provide deep
analysis. There’s typically no single tool or approach that addresses an
organization’s needs. Enterprises require a portfolio of products, tools and
capabilities from different vendors, Tata consultant Kalyan Viswanathan says.

3. Build workflows and policies that facilitate the use of
big data. An organization must define ownership and how different groups can
access and use data. It must also develop ways to transform findings and
results into actual programs and initiatives.

4. Focus on security and privacy concerns. Big data creates
remarkable opportunities, but it also creates risks. As different groups within
an organization use and analyze data, there’s an urgent need to ensure that the
proper protections are in place.

5. Find the needed talent to put big data to work. McKinsey
& Co. states that a talent shortage is looming in the data-analytics field
that could reach 190,000 people by 2018. Organizations that get a head start in
developing internal expertise are likely to realize a competitive advantage.